Business world is rapidly digitizing – Technology disruption is coming

Business world is rapidly digitizing – Technology disruption is coming

Business world is rapidly digitizing

Business disruption is a symptom, not the disease

For several years now digital has been an appendage to “business as usual.” But recently, digital transformations have reached the tipping point where digital has become “business as usual” – the tail has become the dog.

The business world is rapidly digitizing, breaking down industry barriers and creating new opportunities while destroying long-successful business models. A decade ago business disruption was the rare exception – now it is a reality that companies face on a regular basis.

Given the amount of turmoil digital disruption is causing, it’s time for companies to evaluate these threats and opportunities and start creating new business options for the future – the more-connected future of digital ecosystems.

Business world is rapidly digitizing

It’s an economy of limitless opportunities for some and disruption and displacement for others. Many firms – such has Kodak, Blockbuster, Sears, and Blackberry – were unable to adapt, while others are thriving.

The number of disrupters are increasing constantly: Uber (disrupting taxis), Airbnb (disrupting hotels),  WhatsApp (disrupting mobile and fixed telephony), Netflix (disrupting DVD rental), Apple Pay, Kabbage, Venmo and others (disrupting banks) and Amazon (disrupting booksellers and retailers of many other products).

Massive disruption is coming

The most successful disruptors of recent years employ “combinatorial disruption,” in which multiple sources of value — cost, experience, and platform — are fused to create disruptive new business models and exponential gains.

Business world is rapidly digitizing

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About The Author

Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement, development and change management. International experience from management positions in Denmark, Germany and Switzerland.

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